Sagard plans to announce the launch Thursday and will sell the fund exclusively through financial advisers to accredited retail investors in a partnership with iCapital
alternative-investment arm Sagard Holdings is launching its first private credit fund for retail investors at a time when some private credit funds are struggling with elevated redemption requests and major defaults on the loans they provide.
Private credit is a type of debt provided by non-bank lenders to businesses seeking to raise capital. It refers to loans that are made directly by investors to companies. Investors are attracted to private markets as they look to access higher rates of return, but the asset class comes with higher risk and often locks in funds for longer time horizons.
“Most of the big pension plans in Canada have been investors in Sagard’s private credit product and when you look back over the last 20 years, our team has had a very, successful track record managing capital for those institutions,” Mr. Vigna said in an interview. “We’ve continued to deliver outsized returns for those different institutions and that’s why we’ve seen so much institutional capital come into this space.
“We believe in democratizing access to alternatives,” Mr. Desmarais said in a statement. “We are now going to offer these capabilities to a much broader category of accredited investors. Until recently, this kind of access has not been possible. We are starting with private credit in Canada, and the plan is to go far beyond that.”
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